https://www.taxtmi.com/caselaws?id=286130 The Court upheld the decision to allow deduction for bonus and royalty expenses under section 43(B) of the Income Tax Act, dismissing the appeal. Regarding the obsolete stock/stores disallowance, the Court affirmed the 25% disallowance upheld by the ITAT, leading to the deletion of the remaining 75% disallowance. The judgment emphasized adherence to relevant tax provisions and lower authorities' decisions in determining expense deductions and write-offs. en-us Mon, 02 Dec 2013 00:00:00 +0530 Thu, 13 Feb 2020 14:45:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286130 The Court upheld the decision to allow deduction for bonus and royalty expenses under section 43(B) of the Income Tax Act, dismissing the appeal. Regarding the obsolete stock/stores disallowance, the Court affirmed the 25% disallowance upheld by the ITAT, leading to the deletion of the remaining 75% disallowance. The judgment emphasized adherence to relevant tax provisions and lower authorities' decisions in determining expense deductions and write-offs. Case-Laws Income Tax Mon, 02 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286130